BreadTalk Q1 net profit plummets

The absence of a one-time divestment gain dented results for BreadTalk Group in its first quarter.

Net profit plunged 89.1 per cent to S$10.8 million from the previous year, the group said in a Singapore Exchange filing on Thursday evening.

BreadTalk had in the first quarter of 2017 recognised S$9.3 million in capital gain from the sale of its investment in TripleOne Somerset.

In the first quarter of this year, it also brought forward the early closure of eight bakery outlets in China and one food atrium outlet in Hangzhou.